Climate activists up stakes at Exxon, backing calls for independent board chairman

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HOUSTON (Reuters) – Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot.

FILE PHOTO: Darren Woods, Chairman & CEO of Exxon Mobil Corporation attends a news conference at the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid/File Photo

New York state’s pension fund, Church Commissioners for England, and Legal & General Investment Management, which all battled Exxon over global warming and lobbying disclosures have this year taken up a call to split

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Potbelly settlement with activists includes twist: stock, not cash, for outlays

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BOSTON (Reuters) – Sandwich maker Potbelly Corp (PBPB.O) on Monday promised to reimburse activist shareholders’ expenses with stock not cash, creating a situation that lawyers call an outlier for now but which they said could find traction in tough economic times.

FILE PHOTO: A Potbelly sandwich shop is seen in New York July 14, 2014. REUTERS/Shannon Stapleton

The two sides reached a settlement that looks routine for the times with two board seats going to the activist group led by Vann Avedisian while the company’s directors keep their jobs.

Buried in a regulatory filing, however, is a twist

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